School of Commerce
Volume XVII, Number 31 April 7. 1917
Published Weekly by Northwestern University
Northwestern University Building
Evanston and Chicago
School of Commerce
Published by the University
Sept. 24 Mon. Academic year 1917-1918 begins
Sept. 24 Mori. Examinations for admission
Sept. 24 Mon. First day of registration
Sept. 26 Wed. Second examinations
Sept. 27 Thu. Class work begins
Oct. 2 Tue. Last day for registration of candidates for advanced
Nov. 29 Thu. Thanksgiving recess, to December 2, inclusive
Dec. 5 Wed. Last day for filing titles of theses for advanced
Dec. 19 Wed. Christmas recess to January 2, Wednesday, inclusive
Jan. 3 Thu. Class work resumed
Jan. 28 Mon. Mid-year examinations begin
Feb. 9 Sat. Second examinations. Last day of registration for
the second semester
Feb. 1 1 Mon. Second semester begins, Class work resumed
Feb. 22 Fri. Washington's Birthday
Mar. 29 Fri. Easter recess, to April 1, Monday, inclusive
May 18 Sat. Last day for filing theses for advanced degrees
May 25 Sat. Oral examinations of candidates for advanced
May 27 Mon. Regular examinations begin
May 30 Thu. Memorial Day
June 12 Wed. sixtieth annual commencement
The Faculty 5
Special Lecturers 7
The School of Commerce 8
Course in Business Administration
Degree, Bachelor in Business Administration 12
Requirements for the Degree, Bachelor in Business Admin-
Schedule of Courses 13
Selection of Subjects 16
Degree, Bachelor of Science 17
Description of Courses 18
The Library 32
Employment for Graduates 33
Residences for Men 34
Grades of Scholarship 35
Class Attendance 36
Fees and Expenses 36
Self-support of Students 37
University Not Responsible for Personal Losses 38
How to Address Correspondence 38
Thomas Franklin Holgate, Ph.D., LL.D., President of the Univer-
sity ad interim.
Willard Eugene Hotchkiss, Ph.D., Dean.
Arthur Emil Swanson, Ph.D., Director of Evening Classes.
Neva Olive Lesley, Secretary.
Willard Eugene Hotchkiss, Ph.D., Professor of Economics and
Walter Dill Scott, Ph.D., Professor of Advertising.
Earl Dean Howard, Ph.D., Professor of Economics.
Frederick Shipp Deibler, Ph.D., Professor of Economics.
Alfred William Bays, B.S., LL.B., Professor of Business Law.
Arthur Edward Andersen, C.P.A., Professor of Accounting.
Ralph Emerson Heilman, Ph.D., Professor of Economics and Social
Arthur Emil Swanson, Ph.D., Professor of Economics and Business
Walter Kay Smart, Ph.D., Lecturer in Business English.
Walter Edward Lagerquist, Ph.D., Associate Professor of Economics
Horace Secrist, Ph.D., Associate Professor of Economics and Sta-
Homer Bews Vanderblue, Ph.D., Associate Professor of Transpor-
David Himmelblau, B.A., C.P.A., B.B.A., Associate Professor of
Frederic Ernest Richter, M.A., Assistant Professor of Banking.
Henry Post Dutton, B.E.E., Assistant Professor in Factory Manage-
Eric Louis Kohler, M.A., C.P.A., Instructor in Accounting.
Thomas R. Taylor, M.A., Instructor in Resources and Foreign
James Harris Bliss, Jr., C.P.A., Instructor in Accounting.
John Fred Lynn, C.P.A., Instructor in Accounting.
James Oscar McKinsey, LL.B., B.C.S., Instructor in Accounting.
OTHER OFFICERS OF INSTRUCTION
Ronald Salmon Crane, Ph.D., Lecturer in Business English.
Roy Hall, B.A., Lecturer in Accounting.
Robert Grant Martin, Ph.D., Lecturer in Business English.
Jackson Benjamin McKinney, M.A., Lecturer in Business English.
Charles Augustus Myers, Ph.D., Lecturer in Business English.
James Hamilton Picken, Lecturer in Sales Correspondence.
Charles Merle Ruth, LL.B., Lecturer in Business 'Law.
Thomas Lutz Stitt, Lecturer in Foreign Trade.
Michele A. Vaccariello, B.A., Lecturer in Commercial Spanish and
Mildred Johnson, B.A., Librarian.
Cuthbert Adams, Bond Department, Merchants Loan and Trust
Norman L. Andersen, Commercial Agent, Bureau of Foreign and
Henry C. Barlow, Traffic Director, Chicago Association of Com-
Harold Benington, C.P.A., Ernest Reckitt and Company.
Harry Benner, Halsey Stuart and Company.
Alfred R. Bone, Commercial Agent, Chicago Telephone Company.
Thomas Drever, C.P.A., Comptroller, American Steel Foundries.
Edward P. Farwell, Local Manager, Babson Statistical Organiza-
Edward E. Gore, C.P.A., Barrow, Wade, Guthrie and Company.
William H. Hodge, Manager Publicity Department, H. M. Byl-
lesby and Company.
Arthur C. King, Consulting Engineer.
Albert C. MacMahan, Sales Department, National Cash Register
George C. Mathews, Manager, Rate Department, Anderson, De-
lany and Company.
William D. Mathews, Superintendent of Inspections, Chicago Board
Thomas A. McCormack, C.P.A., General Cost Statistician, Allis-
Chalmers Manufacturing Company of Milwaukee.
William D. Mcjunkin, President, W. D. Mcjunkin Advertising
Walter Merrill, Manager, Merchandise Service Bureau, Chicago
James Mullenbach, Chairman Trade Board, Hart, Schaffner &
John R. Newcomer, Judge, Municipal Court.
James H. Oates, Hobart & Oates, General Agents, Northwestern
Mutual Life Insurance Company.
Daniel J. O'Conner, Efficiency Engineer, Swift and Company.
Arthur H. Pearsall, Manager Chicago Branch, The Studebaker
Corporation of America.
H. A. Putney, Department Near Eastern Affairs, State Department,
Washington, D. C.
M. A. Rasmussen, Manager, Adjustment Bureau, Chicago Credit
The School of Commerce
ORGANIZATION AND LOCATION
Northwestern University School of Commerce was organized by
Northwestern University in June, 1908, when sixty business men of
Chicago, members of the Chicago Association of Commerce, the
Illinois Society of Certified Public Accountants, and the Industrial
Club of Chicago, assumed financial responsibility for the School
during the first three j^ears of its existence.
Northwestern University, by virtue of its location in a leading
commercial center, occupies a favorable position for carrying on
education for business. The general offices of the School of Com-
merce are in the Northwestern University Building, Chicago, and
the day classes are conducted on the College Campus in Evanston,
situated on the lake shore immediately north of the city. A branch
Commerce office is in Harris Hall, on the Campus.
The University is equipped with library and other facilities be-
sides being in close proximity to the large libraries of Chicago. Its
location offers a wealth of material for study and observation, and
the advantage of location is greatly enhanced by a plan of organiza-
tion which insures close co-operation with progressive and public-
spirited business men.
THE AIM OF THE SCHOOL OF COMMERCE
Instruction in the School of Commerce is based on three
fundamental aims: first, to give students a comprehensive, many-
sided survey of business facts and experience; second, to develop a
power of accurate analysis which will prepare the student to think
complicated business problems through to the end; third, to maintain
an atmosphere in which large business problems will be regarded in
a public-spirited way. Fundamentally, then, the object of the School
is to train business executives.
SUCCESSFUL BUSINESS MEN, TRAINED MEN
Men who have been successful in a legitimate business have in
some way been trained for that success. They may have been trained
by the business itself, but if they have, years of experience have
THE SCHOOL OF COMMERCE
brought them to the point where they observe certain definite prin-
ciples of business action. Consciously or unconsciously, these prin-
ciples are applied to the solution of problems just as principles are
applied to the solution of problems in law, medicine, and other pro-
TRAINING BY EXPERIENCE WASTEFUL
To learn from trial and error, from the mistakes of the daily
routine, is costly. Only a short time ago, lawyers, doctors and engi-
neers were being trained in the school of experience. Early chemists
were limited to the results of their individual observations and
research. But today no one would think of sending a prospective
chemist to a laboratory to work out his preparation at random without
the benefit of the experience and the scientific principles already
achieved. As the principles of chemistry and other sciences have been
derived from experiment and observation, so there is need of assem-
bling the results of experience in business and of making available for
the future, principles of business management which have emerged
from the successes and errors of the past. The wastefulness of
leaving each individual to learn from costly experience what others
have discovered over and over again, has brought the keenest execu-
tives to realize that systematic business training is a fundamental
REQUIREMENTS FOR ADMISSION TO THE COURSE IN BUSINESS
Applicants for admission to the course in Business Administration
must have satisfied entrance requirements in some college, profes-
sional, or scientific school of approved standing and have completed
two full years of study in such school. The inclusion, in the two
college years, of a full year course in the Principles of Economics is
recommended. Persons are not permitted to begin the work of the
course in Business Administration unless their college record gives
evidence of capacity to undertake serious professional study.
COLLEGE PREPARATION FOR ENTRANCE TO THE COURSE IN BUSINESS
Persons about to enter college, who can meet the entrance require-
ments of the College of Liberal Arts of Northwestern University,
may qualify for entrance to the course in Business Administration by
10 NORTHWESTERN UNIVERSITY
taking the following two-year Pre-Commerce course in the College of
Freshman Year Sophomore Year
Economic History (Economics Economics A 3
A A) 3 General Psychology 3
Mathematics Ai or A2 3 English Bi 2
English Ai or A2 3 Foreign Language (German A
Foreign Language (French A or French A) 3
or German A) 3 Science 4
Geography 4 ' —
— Total 15
Total 16 Bookkeeping — second semester,
no credit a
If the applicant presents credit for less than two years of college
work, such credit applies on the above Pre-Commerce course.
COLLEGE ENTRANCE REQUIREMENTS FOR THE PRE-COMMERCE
For admission to the Pre-Commerce course without examination,
a certificate of the Principal of an accredited high school, or other
qualified officer, must be presented, recommending the candidate as
competent to pursue college studies to advantage, and showing fifteen
units of credit as follows:
A. At least three units of English, one unit of Algebra, and
one unit of Geometry.
B. Foreign languages — Latin, Greek, French, German — at least
three units of one of these languages or two units of each
of two of them.
C. Other subjects sufficient to make, with the above, an ag-
gregate of fifteen units. These may include any sub-
jects commonly appearing as a part of a high school
course, provided that no subject is presented for less than
a half unit of credit. Vocal music and physical training
are not recognized for credit.
A condition of not more than one unit may be allowed to a can-
didate ranking above the lowest quarter of his high school class, but
no condition is allowed in the prescribed English, Algebra, or
THE SCHOOL OF COMMERCE 11
Deficiencies in entrance credit may be made up by examination
before admission, at the examinations of the College Entrance Ex-
amination Board in June, or at the regular entrance examinations
held at this University in September. All entrance deficiencies must
be made up before the beginning of the second year of residence.
For candidates who do not present from an accredited school cer-
tificates covering the entrance requirements described above, the fol-
lowing provision is made: Examinations may be taken in the pre-
scribed work in English, Algebra, Geometry, and Foreign Languages,
and, if these are satisfactory, the candidate will be admitted to col-
lege, provided he presents supplementary evidence of preparation
equivalent to that furnished by a four-year high school course.
College credits for admission or for advanced standing, and high
school credits for admission to the Pre-Commerce course in the
College of Liberal Arts, must be forwarded by the principal or the
registrar of the institution last attended. The proper blanks will be
furnished upon request.
THE OBJECT IN REQUIRING TWO YEARS OF COLLEGE STUDY IN
PREPARATION FOR ENTRANCE TO THE COURSE IN
The business career is rapidly acquiring, and ought to acquire, a
recognized professional standing. Every young business man should
have a training which not only will enable him to maintain his place
in the profession but also will serve to make him a leader in raising
the standards of business efficiency. To rise to such a position, he
must be able to look beyond the routine duties of his work and to
grasp the broader principles upon which business success is founded.
Business today demands in particular men who are educated, and
not men who are merely drilled in specific processes.
The aim of the Northwestern University School of Commerce is
to base the training of its students for business on the foundation of a
broad outlook on life. Business is infinitely complex and specialized,
and requires a power of analysis which nothing so well as a compre-
hensive scientific training can give. With this complexity there
exist, in a great modern business, far-reaching public relations de-
manding a liberal culture and the finest qualities of mind and spirit.
It is for the purpose of developing such qualities that colleges are
12 NORTHWESTERN UNIVERSITY
In requiring two years of college work as a prerequisite for ad-
mission to the course in Business Administration, and in combining
with the strictly professional subjects in that course many others of a
liberalizing purpose, the School of Commerce becomes articulated as
an integral part of the scheme of American higher education. The
student who contemplates taking up the course in Business Adminis-
tration should pursue the two years of preparatory college work with
the same earnest professional spirit which will be required of him
in the years of the Business Administration course which follow,
remembering that, without the training of mind and spirit, he will
not be able in any adequate way to solve the problems of his later
course and of the active years which follow.
Education is a public function and owes its chief duty to society.
While the School of Commerce fully expects to promote the progress
of its students toward positions of greater responsibility and influence,
its first object is to make them useful members of the commonwealth
by increasing their efficiency in rendering service.
The Course in Business Administration
THE DEGREE, BACHELOR IN BUSINESS ADMINISTRATION
By vote of the Board of Trustees, January 9, 19 12, a course of
study leading to the degree of Bachelor in Business Administration
was approved. The plan of instruction contemplates a three-year
course involving a thorough inquiry into the principles of business
organization and management, and the application of principles to
specific problems. The course comprises a careful and comprehensive
survey of the different branches of business, followed by a more in-
tensive study in some particular line.
REQUIREMENTS FOR THE DEGREE, BACHELOR IN BUSINESS
Formal application for the degree must be made before Novem-
ber 1 of the academic year in which the degree is granted. Every
candidate for the degree will be required, during his last year, to
undertake a piece of constructive investigation relating to the par-
ticular business which he intends to enter. The subject of this
investigation must be filed with the secretary of the School of Com-
merce not later than December 1, and a thesis containing the results
must be presented not later than May 15.
THE SCHOOL OF COMMERCE 13
In order to qualify for the degree at the end of the third year, it
is necessary for the student to secure a position and to be employed
in the line of business for which he is preparing, during the summer
intervening between the last two years.
Candidates offering advance credit from other institutions are
required to pursue at least one full year's work under the direction
of the School of Commerce faculty.
The degree, Bachelor in Business Administration, is not awarded
merely as result of pursuing a specified number of courses. Stu-
dents are expected to meet the requirements imposed with the
professional spirit and measure of precision demanded in well-regu-
lated business houses. As the course progresses, they should acquire
ability to analyze business situations and to apply fundamental prin-
ciples to the solution of practical business problems. If after a reason-
able time a student's work does not give promise of effectiveness in
the business field, he is discouraged from continuing the course.
Schedule of Courses
The required work of the first year of the Business Administration course
is alike for all students regardless of the particular field in which ther
intend to specialize. The schedule for this year is as follows:
Note: Year-subjects are printed in dark type; semester-subjects in light type.
Required Subjects One Elective in
Money and Banking English
Corporation Finance Political Science
Accounting I History
Statistics Mathematics, or
Business Law Science
Resources and Trade
Note: Students who enter the course in Business Administration without hav-
ing had the Principles of Economics will be required to take that course in the first
year and postpone Money and Banking and Corporation Finance until later. Sim-
ilarly, a course in General Psychology must precede the course in Business Psy-
Second and Third Years
Courses required of all students will demand roughly two-thirds of
the student's time in the second year and one-fourth of his time in the
third year. The required courses of the second year are Business and
Government, Business Organization, Seminar. A Seminar in the student's
special subject is required in the third year. The required seminar courses
represent uniformity in method of study rather than in subject matter.
The seminar work of each student in the third year, and as far as prac-
ticable in the second year, will relate to the field of business for which
he is preparing.
J I to native Schedules
The following schedules show some of the chief business careers for
which the work of the School of Commerce is intended to prepare, together
with the principal subjects which students in each special field will be
expected to pursue. Except for the required courses listed above, the work
of the last two years is flexible, varying according to the field chosen and
according to the needs of the particular students.
In all cases emphasis in the last year is laid primarily on individual
work in some special field of business research.
Business and Government
Public Finance and Taxation
Seminar in Accounting
Public Service Corporation
BANKING AND FINANCE
Business and Government
Seminar in Finance
Public Finance and Taxation
Public Service Corporation
CHAMBER OF COMMERCE ADMINISTRATION
Business and Government
Seminar in Commerce
Public Finafnce and Taxation
Industrial and Social Problems
•Students specializing in Accounting will normally take Accounting II in the
second semester of the first year (see schedule), postponing Statistics to the second
semester of the second vear.
tThe adjustment of this schedule requires students to take the two-year-hour
course in Accounting II in the evening school in Chicago.
THE SCHOOL OF COMMERCE
COMMERCE AND MERCHANDISING
Industrial and Social Problems
Seminar in Merchandising
Business and Government
History of Education
Problems in Secondary Education
Seminar in Commercial Education
High School Methods
Industrial and Social Problems
Business and Government
Industrial and Social Problems
Seminar in Factory
Business and Government
South American Trade
Seminar in Foreign Trade
Public Finance and Taxation
# For students who expect to go into Foreign Trade an additional year of prep-
aration is urged.
NORTHWESTERN U N I V E R S 1 T Y
PUBLIC AND SOCIAL SERVICE
Business and Government
Public Finance and Taxation
Industrial and Social Problems
Business and Government
Industrial and Social Problems
Public; Finance and Taxation
Business and Government
Public Finance and Taxation
Seminar in Transportation
Public Service Corporation
Industrial and Social Problems
Selection of Subjects
IMPORTANCE OF FUNDAMENTAL COURSES
It is highly important that students should be well grounded in
those subjects in which fundamental principles are set forth. Espe-
cially do students of business need a thorough training in the use of
English. Certain fundamental subjects have been made the foun-
dation of the course in Business Administration by including them in
the schedule of the first year. Even in the highly specialized subjects
of the later years, emphasis is constantly laid on the fundamental
CHOICE OF ELECTIVES
Electives should be chosen, not with the idea of accumulating the
largest volume of information, but with the purpose of securing a
discipline in the line of work the student intends to follow.
THE SCHOOL OF COMMERCE 17
While the largest emphasis is placed on the training of executives
in general, it is recognized that the work of the specialist plays a
large part in present-day business, and provision is made for meeting
the needs of persons who expect to go into special lines of business,
such as banking and transportation, and likewise for those who intend
to follow certain functional specialties like accounting. The basic
principle, however, underlying the development of the course toward
greater and greater specialization from the earlier to the later years,
is that in connection with the opportunity to study business from
many sides, the course should finally focus in an opportunity to go
deeply into some one subject and become sufficiently master thereof
to be able to analyze with authority problems in some narrow field.
The degree of specialization, however, is not such as to prevent
all students from mastering those subjects which are most fundamen-
tal and when it is remembered that the specialization is disciplinary
rather than informational, even the specialization itself does not
commit a student to future work in his specialty. While a thorough
study of a particular subject is doubtless the best preparation for
further work therein, it also serves as a training for intensive work
in any field. American progress has owed too much to adapta-
bility — the power to shift from one activity to another — to justify any
course of study in which the feature of adaptability is sacrificed.
THE DEGREE, BACHELOR OF SCIENCE
Students who take the Pre-Commerce course are able to
qualify for the degree Bachelor of Science at the end of their second
year in the course in Business Administration, and to qualify for the
degree Bachelor in Business Administration at the end of the third
year. Students who have taken their two years of college work else-
where can qualify for the degree Bachelor of Science if their previous
college course has included subjects equivalent to those of the Pre-
The College of Liberal Arts requires for the Bachelor of Science
degree a prescribed amount of work in a major subject and in two
minor subjects. The subjects in Economics and Business proper
cover the requirements for a major and one minor. They also cover
a second minor in Government, Psychology, Mathematics, or some
other College subject, the particular minor in each case being selected
for its service to the student in the field of business for which he is
18 NORTHWESTERN UNIVERSITY
REGISTRATION FOR COURSE IN BUSINESS ADMINISTRATION
Every applicant for the course in Business Administration is re-
quired to register in person either at the office of the School of
Commerce in Harris Hall on the Campus in Evanston, or at the
office of the School of Commerce in the Northwestern University
Building in Chicago.
REGISTRATION IN PRE-COMMERCE COURSE
Every applicant for the Pre-Commerce course is required to
register in person at the office of the Registrar of the College of
Liberal Arts, in University Hall, Evanston. Considerable advan-
tage may be gained during the Pre-Commerce course from the counsel
of a faculty adviser representing the School of Commerce. There-
fore, students who are planning to enter the School of Commerce
later are requested to signify their intention at the time of matricula-
tion in the College of Liberal Arts.
GENERAL REGISTRATION REGULATIONS
Registration days are the first Monday, Tuesday, and Wednesday
of the first semester; and the first Friday and Saturday of the second
semester. A student not registered at the close of this period is
subject to a fee of two dollars for late registration.
Tuition bill is given to the student upon registration. This must
be presented for payment immediately at the Business Manager's
Office, 518 Davis Street, Evanston.
Description of Courses
Bookkeeping— Theory and Practice — The chief object of the
work in Bookkeeping is to train students in general bookkeeping
practice in order to prepare them to take Accounting I.
Distinction between debits and credits; principles of single and
double entry ; summarization of transactions and books required for
this purpose; various kinds of information conveyed through ledger
accounts; principles of journalizing, with considerable class practice
work in making of journal entries; posting from original books of
entry to ledger and classification of transactions; definition of book-
THE SCHOOL OF COMMERCE 19
keeping terms; loss and gain accounts, and method of determining
losses and gains; disposition of losses and gains; abstracting trial
balances and uses to which trial balances are put; preparation of
simple financial statements and final closing of books. Instruction is
largely individual. Prerequisite for Accounting I. No credit.
Second semester. Mon., 4 to 6. Mr. Hall.
Accounting I — Principles — A survey of Accounting adapted pri-
marily to the demands of general business; also the preparatory work
for students specializing in Accountancy. Fundamental principles
and their application; single-entry set of accounts developed into a
modern accounting system. Problems and questions assigned for
home study. Open to students with training equivalent to the work
in Bookkeeping. Prerequisite for Accounting II. Required in the
first year of the course in Business Administration. Credit, four
semester-hours. First semester. Mon., Th., 2 to 4. Mr. Kohler.
Accounting II — Intermediate — Continuation of Accounting I,
for students desiring a thorough knowledge of accounts and auditing
for general business training; also for students preparing for the
C.P.A. examination. Subject matter treated from the auditor's point
of view. A large number of the problems and questions which form
the basis of the work are taken from C.P.A. examination papers.
Statement of Affairs ; Realization and Liquidation Account ; Trustee
and Executor's Accounts; Statement showing Application of Funds;
Adjustment of Partners' Accounts; Capital vs. Revenue Expendi-
tures; Branch and Agency Accounting; Survey of Principles of Cost
Accounting including the principal methods used in the apportion-
ment of overhead expenses; Auditing — Theory and Practice; Balance
Sheets and various forms of Income Statements. Mergers and Amal-
gamations; Consolidated Balance Sheet. Prerequisite for Accounting
III. Credit, four semester-hours. Second semester. Mon., Th.,
2 to 4. Mr. Kohler.
Accounting III — Advanced Theory, Auditing and Practice —
Continuation of Accounting II, primarily for persons who expect to
enter the Accounting profession. Students completing Accounting
III and the Quiz Course should be prepared to take the Certified
Public Accountant's examination, provided they are otherwise quali-
fied. Based on the problems and questions set at previous C.P.A.
examinations. Special points to be considered in the audit of munic-
ipalities, institutions, banks, investment and insurance companies,
land companies, publishers, mines, public utilities, contractors, etc.
20 N ( ) R T 1 1 W E STKRN U N I V E R S I T Y
Investigations for special purposes. The Auditor's Report. Systems.
Income Tax. Consolidated Balance Sheet and Consolidated State-
ment of Profits and Income. Credit, two year-hours. Given in
Chicago*, Mon., 7 to 9 p. m. Professor Himmelblau.
Public Service Corporation Accounting — Special points arising
in the accounts of electric light, gas, water, telephone and telegraph,
electric railways and steam railways, such as plant costs, intangible
values, discounts on securities, depreciation, classification of main-
tenance and betterment expenditures, systems of internal check, etc.
Classification of Accounts prescribed by the Interstate Commerce
Commission and various state commissions. Preparation of Balance
Sheets and Operating Statements for independent and controlled
companies; compilation of statistical data and the uses thereof.
Special points to be noted in the regular audit of utility companies;
the trust indenture; certification of amount of bonds which may be
taken down thereunder. Points to be noted in investigations for rate
cases; methods of determining operating costs of joint utilities, prin-
ciples underlying the valuation of physical and intangible property,
methods of calculating, "going value," depreciation, working capital,
fair value, fair rate of return, and procedure expenses. Special facili-
ties available for research work. Credit, two year-hours. Additional
credit may be arranged for through seminar. Given in Chicago,-
Wed., 7 to 9. Professor Himmelblau.
Factory Cost Accounting — Accounting incident to the purchase,
receipt and issue of raw finished materials, payrolls, and factory
expenses, and the scientific distribution thereof; issuance of shop
orders; perpetual inventories; productive and non-productive labor;
recording and paying of wages; piece work, profit-sharing and
premium or bonus systems; factory overhead expenses; rent and
interest in costs; system of repair, renewal and construction orders
and the allocation of selling, distributing and administrative expenses;
the use and value of graphic charts in the final assembly of data and
statistics. Open to students who have had the equivalent of Ac-
counting I. Registration on permission of instructor. Credit, two
year-hours. Given in Chicago, Wed., 7 to 9. Mr. Lynn.
*Subjects marked ''Given in Chicago" are not offered in Evanston. Many
of the other subjects are repeated in Chicago sections. The Chicago classes
meet in the late afternoon and evening, and are intended primarily for men
who are employed during the day. Day students are admitted to Chicago
sections only upon the recommendation of their faculty adviser.
THE SCHOOL OF COMMERCE 21
Quiz Class — Thorough practice work in class room to prepare
candidates for C.P.A. examinations. Object is to train students to
apply accounting principles and to work in class room under sub-
stantially same conditions as in examination room. Practical
accounting problems; auditing and theory of accounts; analysis and
discussion. The last hour is devoted to an open discussion of the
"how" and "why" of the solutions to problems assigned. Instruction
is largely individual. Credit, two year-hours. Given in Chicago,
Sat., 2 to 5. Professor Andersen.
DEGREE OF CERTIFIED PUBLIC ACCOUNTANT
By act of the General Assembly passed May 15, 1903, provision
is made for a state examination for the degree of Certified Public
Accountant. Copies of the state law and the rules governing the
examination, and questions given in previous examinations since 1903,
may be secured at the office of the School of Commerce.
Banking and Finance
Money, Banking, and Corporation Finance (Economics Bi) —
First semester, Money and Banking: a brief discussion of the his-
tory and principles of money; the monetary system of the United
States, including some of our past problems and their solution ; theory
of the value of money; index numbers. Principles of banking and
functions of banks and of bank credit; foreign exchange and gold
movements; history of banking in the United States; foreign banking
systems; our banking system today with particular emphasis on the
Federal Reserve System. Second semester, Corporation Finance:
corporate organization in modern business; the salient points in its
legal organization; classification of the instruments of finance; pro-
motion, underwriting, capitalization^ earnings, expenses, surplus,
manipulation, insolvency, receivership, reorganization, and regulation.
Open to students who have completed Economics A (see page 24).
Credit, three year-hours. Mon., Wed., Fri., 9. Professors Lager-
quist and Richter.
Investments (Economics Cio) — Markets and their influence on
the price of securities. Elements of sound investments and methods
of computing net earnings, amortization, rights, and convertibles.
Government, municipal, railroad, steamship, street railway, gas, elec-
tric, water power, real estate, timber, and irrigation securities as
22 NORTHWESTERN UNIVERSITY
investments. Open to students who have completed Economics Bi.
Credit, three semester-hours. First semester, Mon., Wed., Fri., 9.
Advanced Money and Banking (Economics C 1) — The Federal
Reserve System: a review of its chief features; effect of the System
and of the European War on our banking practices and problems
and financial relationships, internally and externally. Such subjects
as bank credits and credit analysis; collections and clearings; foreign
exchange; money markets and money rates, and bank investments,
will be dealt with. Crises, their history and theory will be studied
and the Federal Reserve System considered as a preventive of panics.
Agricultural credit here and abroad, and the Federal Farm Loan
Act will also receive attention. Open to students who have com-
pleted Economics Bi. Credit, three semester-hours. Second semes-
ter, Tu., Th., Sat., 9. Professor Richter.
Business Law I and II — General elementary law; contracts;
agency; sales of personal property; debtor, creditor, and bankruptcy;
trademarks and unfair competition. Credit, four semester-hours.
First semester, Wed., Fri., 2 to 4. Professor Bays.
Business Law III — Corporations; partnerships. Given in Chi-
cago, first semester, Fri., 7 to 9. Credit, two semester-hours. Mr.
Business Law IV — Negotiable paper, suretyship, banks and bank-
ing. Given in Chicago, second semester, Th., 7 to 9. Credit, two
semester-hours. Professor Bays.
Business Law V — Law of real and personal property, insurance.
Given in Chicago, second semester, Fri., 7 to 9. Credit, two semester-
hours. Mr. Ruth.
Principles of Business Organization and Management (Econom-
ics C16) — The organization and management of a business with
reference to operation; functional, territorial and unit specialization;
coordination of men and departments; the delegation of authority in
the establishment of standards, in the handling of daily routine and
operation, in maintaining discipline, in emergencies; the relation of
THE SCHOOL OF COMMERCE 23
responsibility to authority; the manner in which this relation can be
sustained; control by means of statistics, graphs and charts, reports,
supervision and inspection, line organization ; standardization of
material, operations, methods, machinery, product; discipline, dis-
ciplinary officers, principle of reward and punishment, value of fines,
immediate attention in case of infraction of rules;* merit records;
business policies. Credit, three semester-hours. First semester, Tu.,
Th., Sat., 10:30. Professor Swanson.
Commercial Organization, Economics C16 — Factors in our dis-
tributive system including manufacturer; general and specialty whole-
saler; jobber and sub-jobber; commission merchant; factory agent;
broker; department, specialty, general, syndicate store; general re-
tailer; mail order retailer; retail agent and salesman. Sales, adver-
tising and credit organization and management of the factors in the
various schemes of distribution. Credit, three semester-hours. Sec-
ond semester, Tu., Th., Sat., 10:30. Professor Swanson.
Resources and Trade — A geographical, economic, and commercial
review of the natural resources of the world. Emphasis will be laid
upon the natural resources of the United States, treated under three
groups: 1, agricultural; 2, forest; and 3, mineral. In each group
the more important products will be singled out for detailed study
of their occurrence, production, and exchange. The study will deal
with the industry or the product arising from the resource, more
than with the resource itself. The trade of the more important
commercial nations will be analyzed in order that the student may
view trade from different angles. Credit, three year-hours. Mon.,
Wed., Fri., 11. Mr. Taylor.
Geography and Trade of South America — After a preliminary
and general study of the factors influencing the trade of South
America as a whole, each country will be the subject of detailed
study. In each case a review of the economic and historical geog-
raphy will constitute the background for the discussion of the trade
of the individual country and the factors affecting that trade.
Emphasis will be laid upon the commercial relations between the
South American countries and the United States, and the trade
opportunities that exist for the American exporters. Credit, two
year-hours. Given in Chicago, Tu., 7 to 9. Mr. Taylor.
Foreign Trade — Significance. Method of investigating whether
a foreign market exists for a class of goods, and where it exists.
How a foreign market can be developed : the nature of the article
24 NORTHWESTERN UNIVERSITY
— its uses, possible substitutes, customs, habits, social or economic
conditions affecting the possible use in a foreign country. Modifica-
tion of the articles to meet foreign needs or prejudices and to facilitate
shipment. Work of consular service. International credits; selling
methods in international trade; packing; invoices; the contract; the
voyage; the delivery; international exchange. Credit, two semester-
hours. Given in Chicago, second semester, Fri., 7 to 9. Mr. Stitt.
AA. Economic History — First semester — The general outlines
of the economic history of England. Second semester — The study
of the economic history of the United States, with due emphasis on
present economic problems. Open to all students. Credit, three year-
hours. For College Juniors and Seniors, or toward a major, this
course bears but two year-hours of credit. Tu., Th., Sat., 9. Pro-
A. The Elements of Economics — An elementary course in the
principles of economics. First semester — An examination of the
fundamental principles of economics. Second semester — Application
of these principles to practical problems. Throughout the course
special attention is given to the relation between theory and practice.
Required of Sophomores taking Pre-Commerce course. Credit, three
year-hours. Credit is not given unless the full course is completed.
Mon., Wed., Fri., 8, 9, 10; Tu., Th., Sat., 9. Professor Deibler,
Professor Lagerquist, Professor Secrist, and Professor Vanderblue.
Bi. Money, Banking, and Corporation Finance — See Banking
and Finance, page 21.
*B2. Labor Problejns and Trade Unionism — First semester —
The development of a wage-earning class, with special emphasis on
economic causes. Problems of woman and child labor. Immigration.
Early organizations of labor. Second semester — Trade union his-
tory, structure, methods and policies. The trade agreement, strikes,
arbitration, the injunction and the legal responsibilities of the union.
Alternates with Course C4. Open to students who have completed
Course A. Credit, three year-hours. Mon., Wed., Fri., 8. Profes-
Not given in 1917-1918.
THE SCHOOL OF COMMERCE 25
B4. Sociology — Social evolution and progress, with particular
reference to social laws. The development of social institutions, as
the family, the state. The development of social control and the
social and economic forces in social control. Open to students who
have completed Course A. Credit, three year-hours. Tu., Th.,
Sat., 8. Professor Heilman.
B5. Present Day Social and Industrial Problems — Industry and
the modern city. Cities before and since the eighteenth century
industrial revolution. Industries in relation to urban and rural
population. Immigration. Women in industry. Industry and the
family. Industry and the state. Mercantile, laissez faire, and human
welfare views of industrial legislation. Social betterment activities
with reference to standards of industrial and social progress. Open
to students who have completed Course A. Credit, three year-hours.
Tu., Th., 10. Third hour to be arranged. Professor Hotchkiss.
B6. Elements of Public Finance; State and Local Taxation —
First semester — The nature of the state ; theories of public expendi-
ture; the direction of public expenditures in cities, states, and in the
nation; classification of public expenditures; budget making in theory
and practice. Second semester — State and local taxation. The
general property tax during the American colonial period ; the tax
history of Ohio to 1850, constitutional tax provisions; uniformity in
taxation; taxation of real and personal property; comparative tax
administration ; inheritance, corporation, and income taxation.
Alternates with Course C7. Open to students who have completed
Course A. Credit, three year-hours. Mon., Wed., Fri., 10. Pro-
B7. Industrial Relations — See Industry, page 28.
Ci. Advanced Money and Banking — See Banking and Finance,
C2. Public Utilities — The relations of public service corpora-
tions and the public; various methods of regulation and control, the
franchise, the indeterminate permit, public ownership, public utilities
commissions; the development by commissions and the companies of
the principles of valuation, rate making, service and capitalization,
analysis of recent important commission decisions. Credit, four se-
mester-hours. First semester. Tu., Th., Sat., 10. Laboratory work
will be required in connection with this course. Professor Heilman.
26 NORTHWESTERN UNIVERSITY
C4. Labor Conditions and Labor Legislation — Factory condi-
tions in respect to hours, wages, sanitation. Industrial accidents,
safety standards and accident prevention. Limitation of hours. Work-
men's Compensation. Laws regulating the employment of women
and children. Unemployment insurance. Minimum wages. Labor
bureaus and the administration of labor laws. Alternates with
Course B2. Open to students who have completed or are taking a
course in the B group. Credit, three year-hours. Mon., Wed.,
Fri., 8. Professor Deibler.
*C7. Principles of Public Finance and Taxation — First semester
— Public finance viewed as the science and method of satisfying public
wants; the field of private and public activity; economy and efficiency
in public expenditures; budget making; ordinary and extraordinary
sources of revenue; war finance; public debts and financial adminis-
tration. Second semester — Principles of taxation. Historical survey
of early taxation with respect to tax principles; justice in taxation;
theories of taxation ; distribution of taxation ; present tendencies and
reform in taxation. Alternates with Course B6. Open to students
who have completed or are taking a course in the B group. Credit,
three year-hours. Mon., Wed., Fri., 10. Professor Secrist.
*C8. Social and Economic Reforms — A study of various pro-
posals for economic reform. Socialism, the Marxian philosophy and
its recent modifications, the growth and tactics of Socialist party in
Europe and the United States, communism and the communistic
experiments, the Single Tax, profit sharing in industry, Social insur-
ance. Professor Heilman.
C9. Value and Distribution — A more thorough study of eco-
nomic principles than is possible in the introductory course. A com-
parison of the theories of distribution as developed in the works of
prominent economists as Marshall, Bohm-Bawerk, Taussig, Clark,
Fisher, etc. Credit, four semester-hours. Second semester. Tu.,
Th., Sat., 10. Fourth hour to be arranged. Professor Heilman.
CiO. Investments — See Banking and Finance, page 21.
Cu. Transportation — See Transportation, page 30.
C12. Business and Government — See Government, page 27.
C14. Special Problems in Social Betterment — Individual con-
ferences and reports upon special phases of topics covered in Course
*Not given in 1917-1918.
THE SCHOOL OF COMMERCE 27
B5. Study of literature and source materials on a particular subject
together with a moderate amount of field work. Results embodied in
a semester report carrying two hours of credit. Open at the discre-
tion of the instructor to students who have completed Course B4,
and who are taking B5. Second semester, hours to be arranged.
C15. Statistics and Statistical Methods — See Statistics, page 30.
C16. Principles of Business and Commercial Organization —
See Commerce, page 22.
D. Seminar — See Seminar and Research Courses, page 31.
Business and Government (Economics C12) — This course, in a
measure, is a summation of the public aspects of business with which
graduate students, Economic majors and business students will have
come in contact in earlier courses. Expansion of business since the
Industrial Revolution; large-scale production; "big business"; class
interests in business; enterpriser, investor, worker, consumer, the
small business man. Necessity for regulation; objects to attain
through regulation ; constitutional and legal aspects of regulation ;
administrative phases of regulation ; government ownership, scope
and limitations; government promotion of business; co-operation
between government and business; government activity of business
organizations; research; publication; education of business men;
harmonizing business and civic motives; non-pecuniary rewards in
business; national efficiency in business; elements of a national policy
toward business. Required in the second year of the course in Busi-
ness Administration. Credit, three year-hours. Tu., Th., 9. Third
hour to be arranged. Professor Hotchkiss.
Government — The following courses in Government are offered
by the Department of Political Science in the College of Liberal
Arts. These courses may be elected by Commerce students who can
satisfy the prerequisites fixed by the Department.
Al. Introductory Government, Mon., Wed., Fri., 8, 10. Credit,
A2. American Federal Government, Mon., Wed., Fri., 8.
(Second semester.) Credit, three semester-hours* A repetition oi
the first semester of Course Ai.
♦Credit, two hours if taken in Senior year.
28 NORTHWESTERN UNIVERSITY
Bi. Political Parties, Mon., Wed., Fri., 10. Credit, three
B3. International and Constitutional Law, Mon., Wed., Fri.,
Hi Credit, three year-hours.
B5. Contemporary European Politics, Th., 4. (First semester.)
Credit, one semester-hour.
Ci. Municipal Government, Tu., Th., Sat., 9. Credit, three
C3. European Diplomacy and World Politics, Tu., Th., 10.
Credit, tivo year-hours.
C4. Asiatic Politics and Government, Tu., Th., II. (First
semester.) Credit, two semester-hours.
C5. Administration, European Governments, Tu., Th., II.
(Second semester.) Credit, two semester-hours.
*C6. The Government of England, Tu., Th., II. (Second
semester.) Credit, two semester-hours.
*Cj. Colonial Government.
*Di. Seminar in State Government, Wed., 4-6. (Second se-
mester.) Credit, two to four semester-hours.
D2. Seminar in Diplomacy, Wed., 4-6. (First semester.)
Credit, two to four semester-hours.
Factory Management — Factors affecting location of plant; adap-
tation of building to process; types of factory building; routing of
work; selection and arrangement of machinery; auxiliary depart-
ments. Types of organization and special adaptations of each type;
executive control ; methods in the Production, Stores, Purchasing,
Shipping, Engineering, Cost, and other departments; routing of work;
progress records; standardization. Handling of labor, wage systems;
time study; selection, discipline, and records; methods of securing the
workmen's co-operation. Credit, four semester-hours. First semester,
Wed., Fri., 2 to 4. Professor Dutton.
Efficiency Standards — Absolute and relative standards of effi-
ciency: graphical methods; analysis of the problem; selection of the
unit of measurement. Determination of Standards; of Investment
*Not given in 1917-1918.
THE SCHOOL OF COMMERCE 29
Efficiency; the Investment Equation; of Labor Efficiency, composite
merit standards for judging employes, time and motion study, in-
ventive and statistical; of Method, instruction cards; of Quality,
specifications. Application of Standards; the Schedule as applied to
factory, office, and other lines of work; Routing; Dispatching; Fol-
low-up. The course will consist principally of laboratory problems
to be worked out by the class. Credit, three semester-hours. Second
semester, Wed., 2 to 3, Fri., 2 to 4. Mr. Dutton.
Industrial Relations — This is a course prepared to meet the
demand for instruction in the scientific adjustment of the relations
of employer and employe. The basis of the course is the labor ar-
rangements existing in such organizations as Hart, Schaffner and
Marx, the Ford Motor Company, the United States Steel Corpora-
tion, Procter and Gamble, the J. B. Stetson Company, and the Cloak
and Suit Manufacturers Association in New York.
Many manufacturing concerns have already established special
labor departments t.o administer the policies and plans of the manage-
ment concerning its employes. Employment, welfare work, dealing
with organized labor, accident and compensation, benefit societies,
etc., are among the functions of such departments and there is an
increasing demand for men to take charge of such work. A broader
understanding of all modern devices to secure harmonious relations
between management and employes is becoming increasingly more
necessary to every employer of labor. Credit, three year-hours. Tu.,
Th., and Sat., 9. Professor Howard.
Ai. Elementary General Psychology — Class room demonstra-
tions and guidance to private observation; demonstration of appara-
tus and methods of experimental psychology ; written exercises and
experiments by members of the class; text-book, lectures, and collat-
eral reading. Open to Sophomores, Juniors, and Seniors. Required
in the Pre-Commerce course. Credit, three year-hours. Mon., Wed.,
Fri., 10, 2. Professor Scott.
Bi. Experimental Psychology — Intended for students of gen-
eral psychology who desire to become acquainted with laboratory
methods. Open to students who are taking or have completed
Course Ai ; see University Catalog, page 126. Two consecutive
hours of laboratory work are required for one hour of credit. Credit,
two year-hours. Mon., Wed., 3-5 ; Tu., Th., 2-4. Dr. Tolman.
30 NORTHWESTERN UNIVERSITY
B3. Applied Psychology; Business — Psychological principles
which have the most direct application to business. Analysis of busi-
ness practices and an attempt to understand from a psychological
standpoint some of the causes of successes and failures in business.
Individual students study the actual and also the possible applica-
tions in business of such factors as imitation, competition, loyalty,
the love of the game, and personal differences. More attention is
paid to advertising than to other forms of business. Open to stu-
dents who have completed Course Ai. Required in the first year of
the course in Business Administration. Second semester. Mon.,
Wed., Fri., 10. Credit, three semester-hours. Professor Scott.
Statistics and Statistical Methods (Economics C15) — Designed
to prepare students to use approved statistical methods discriminat-
ingly in the analysis of economic problems. Uses and abuses of
statistics studied by means of problems drawn from general economics
and business. Lectures and laboratory. Open to students who have
completed a course in Economics as advanced as the B group. Credit,
four semester-hours. Second semester. Lecture, Mon., Wed., 2;
laboratory,. Mon., Wed., 3 to 5. Professor Secrist.
*The Interstate Commerce Act (Economics Cn) — Development
of American transportation systems; the economic characteristics of
railroads; competitive and non-competitive rate-making; the Inter-
state Commerce Act, as amended ; the causes of the passage of the
Act, and the results of its workings; the railroad traffic associations;
general characteristics of the rate structure; railroad rates and the
problems of plant location, and of marketing; milling and fabrica-
tion in transit; diversion; routing and tracing; the Administrative
and Conference rulings of the Interstate Commerce Commission ; the
Interstate Commerce Act, and its interpretation. Credit, three
semester-hours. First semester, Tu., Th., Sat., 8. Professor Van-
*Rate Structure (Economics Cn) — The place of the Traffic De-
partment in the railroad organization ; the rules of the Interstate
Commerce Commission governing the compilation, filing, and publi-
cation of tariffs; the Official, Western, and Southern Classifications,
*Not given in 1917-1918.
THE SCHOOL OF COMMERCE 31
and the extent of their application; the interpretation of classifica-
tions and of tariffs ;, Trunk Line and Central Freight Association
rates; rates into Southeastern Territory, and the Carolinas; the
Virginia Cities adjustment; Trans-Mississippi and Trans-Missouri
rates; Colorado, Utah, and Montana common points; rates to
Southwestern Territory and Texas common points; Transcontinental
rates; intra-state and intra-territorial rates; the effect of the Panama
Canal on rates and traffic; export and import rates; port differentials
and the decisions of the Commission thereon. Credit, three semester-
hours. Second semester, Tu., Th., Sat., 8. Professor Vanderblue.
Seminar and Research Courses
Economic Seminar (Economics D) — Involves an original investi-
gation extending over a complete school year, dealing with a phase
of a fundamental economic problem related to the probable future
business field of the student. Students meet for the discussion of
general questions involving the technique of investigation, such as
the use of original materials, taking of notes, marshalling of facts.
The individual work is done under the direction of a member or
members of the faculty. Intended to give the students training in
the use of original data and in drawing correct and accurate con-
clusions based on all of the facts in a limited field of inquiry. Credit
3-6 hours. The normal registration of second year students in Busi-
ness Administration will be four hours.
Advanced Seminars in Special Fields: Commercial Organization,
Factory Management, Banking and Finance, Accounting, etc. —
Organization similar to the one above, except that the work of each
student is entirely individual and under the direct supervision of a
member of the faculty. Thorough investigation of some fundamental
problem, particularly from the standpoint of business organization in
the special field. Preceded normally by Economics D.
Problems and Field Work — Intended to give an opportunity for
students in their fifth year to come in contact with some of the actual
problems of organization and management, found in an individual
establishment or group of establishments. In some cases, the work
is based upon the experience obtained by actual employment during
the preceding summer. In other cases, the experiences of summer
work are used in connection with work carried on by the student
contemporaneously with the third year of the Business Administra-
32 NORTHWESTERN UNIVERSITY
COLLEGE OF LIBERAL ARTS
Students in Business Administration are encouraged to elect
College work in English and other modern languages, History,
Mathematics, the laboratory sciences, and in any other subjects in
which the discipline secured will contribute to the efficiency of the
student in the line of business for wjiich he is preparing.
THE LAW SCHOOL
Students are also encouraged to supplement the Law courses
offered in the School of Commerce by work in the Law School in
all cases where further legal training seems essential to the best
preparation for a particular career. This applies particularly to the
students preparing for Foreign Trade, for whom a thorough training
in International and Constitutional Law is indispensable.
For details concerning courses in the College of Liberal Arts and
in other schools of the University, consult the Annual Catalog of the
The Library contains 105,000 bound volumes and approximately
70,000 pamphlets. It is open to officers of the University, and to
students upon the payment of their regular semester bills under the
1. During the college year the Library is open, except on Sun-
day, from 8 a. m. to 10 p. m. In the summer vacation, except on
Saturday afternoon and on Sunday, it is open from 8 a. m. until 12
noon and 1 130 p. m. to 5 p. m. The Library is closed on New Year's
Day, the Fourth of July, Thanksgiving Day, and Christmas Day.
2. Officers of the University have direct access to the shelves
and are entitled to the first use of books.
THE SCHOOL OF COMMERCE 33
3. Students may draw from the Library three volumes at a
time, and these may be kept for two weeks unless specially restricted.
Graduate students may have six volumes at a time.
4. The book stacks are not open to the students in general or
to the public; but cards of admission may be given by the Librarian
on recommendation of an officer of instruction.
5. Reserved books in the reading room and the seminary rooms
are withdrawn from circulation at the request of officers of in-
struction for the use of their classes. The books reserved in the read-
ing room and other books of reference are placed on open shelves
freely and equally accessible to all readers ; or, when much in demand,
they are kept at the desk, and delivered on application there. These
books are on no account to be taken from the reading room, and must
be used with due regard to the rights of others.
6. Persons not members of the University are allowed the use
of the reading room at the discretion of the Librarian. Persons in-
troduced by an officer of the University may be permitted to take
books for a short period on the officer's account, or may be granted
the privileges of the Library upon written application endorsed by an
officer of the University.
In addition to the University Library in Evanston, there are avail-
able to the students of the School of Commerce the Commerce
Library in the Northwestern University Building, Chicago; the
Elbert H. Gary Library of Law, housed in the same building; the
John Crerar Library, located in the Marshall Field Building, and
the Public Library of Chicago. The John Crerar Library is very
completely equipped with materials for use in business research.
Employment for Graduates
Although the School of Commerce does not promise to secure
positions for its graduates, it has organized a Bureau of Employment
through which it makes a systematic effort to find positions for stu-
dents who have made a g'ood record in the School. Aside from the
opportunity which the Bureau of Employment affords in placing
graduates, the association with the students in the evening school,
for which the curriculum provides in the third year of the course in
Business Administration, will aid students in making satisfactory con-
nection with business firms upon the completion of their study.
34 NORTHWESTERN UNIVERSITY
Residences for Men
Thirteen new dormitories, of which nine are fraternity houses and
four are so-called College Houses, are now available for men students,
and all men are required to live in a dormitory unless for sufficient
cause they are given formal permission to live elsewhere.
The College Houses are named Lindgren House, after Mr. John
R. Lindgren, the donor; Hinman House, Foster House, and Haven
House, after the first three Presidents of the University.
For description of the Buildings, see page 46 of the General
A dining hall or Commons is operated on the top floor of one
of the buildings, where good board may be had at reasonable prices.
Each student room is for one person and is furnished with a
single bed, mattress, pillow, chiffonier, a combined study table and
bookcase, chairs, rugs, and window shades. The occupant furnishes
his own bedding and towels, but the University takes charge of the
laundering of these. In the interest of economy, the cost of electric
lighting is not included in the general charge, but is apportioned pro
rata, to the occupants of the House.
The charge to each student for a single, furnished room, includ-
ing care and heat for the school year, is from $90 to $110, except for
rooms having a private bath, or a bath reserved for a suite, for which
the annual charge is from $120 to $150. A chart can be obtained
from the Registrar showing the location of rooms, with cost.
Room rent is payable in two installments, one at the beginning
of each semester, and is not returnable. A deposit of $10.00 is
required at the time a room is assigned, to be held until the end of
the college year to cover possible charges, any unused balance to be
returned to the student.
Applications and all inquiries in regard to the dormitories should
be sent to the Registrar, University Hall, Evanston, Illinois.
Arrangements have been made with the National City Bank of
New York to select annually one or more students from a group
recommended by the School of Commerce, to spend in that institution
a full year consisting of summer vacations and a period imme-
THE SCHOOL OF COMMERCE 35
diately following graduation. The student will be paid $60.00 per
month by the bank, and will be allowed a maximum sum for travel-
Several Chicago firms will employ, during vacations, a selected
number of students who have definitely decided to enter the line of
business in which the respective firms are engaged.
Two part-time fellowships are awarded each year. These fellow-
ships carry an honorarium of $400 each, and tuition ; applications
should be filed before April first.
The Commerce Society is an organization composed of students
interested in commerce who meet specified requirements. This
Society meets every two weeks and is addressed by business men.
Since its organization in March, 19 16, the speakers who have ap-
peared before the Society have included Edward M. Skinner,
General Manager of Wilson Brothers; George Woodruff, President
of the First National Bank, Joliet; Irving A. Berndt, Manager of
Betterment Department, Joseph T. Ryerson & Son.
Grades of Scholarship
At the end of each semester the standing of each student in each of
his courses is reported by the instructor to the Secretary and is en-
tered of record. Standing is expressed, according to proficiency, in
grades A, B, C, D, E, F.
Grade A denotes superior scholarship ; grade B, good scholarship ;
grade C, fair scholarship; grade D, poor scholarship; grade E, a
condition which may be removed by a second examination; grade
F, a* failure removable only by repetition of the subject in the class.
Work of grades A, B, and C is counted toward a degree. Work of
grade D may also be counted toward a degree, but not more than one-
fifth of the work done under the Commerce Faculty offered to meet
the requirements for graduation may be of this grade and no work
36 N O R T H W E S T E R N UNIVERSITY
of this grade may be counted toward the B.B.A. degree, unless offset
by an equal amount of work of grade A in the same semester.
Students who secure a lower grade than D in any course will
be permitted to continue their work for the B.B.A. degree only in
very exceptional cases. In such cases, regulations for making up the
work in which the deficiency occurs are the same as obtain in the
College of Liberal Arts.
Work reported "incomplete" at the end of any semester, and not
made good by the beginning of the corresponding semester of the fol-
lowing year, can thereafter be given credit only by repetition in
The semester records of students are sent by the Secretary to the
student's father or guardian.
Students are expected to attend all regular class exercises and
conferences which the instructor may designate. Each instructor is
at liberty to adopt such measures as he deems expedient for bringing
this about. In case absences in any course should be repeated, the
adjustment of work takes place under the rules which obtain in the
College of Liberal Arts. See Annual Catalog, page 159.
Fees and Expenses
All fees are due and payable in -advance and until paid the
student's registration is considered provisional.
A matriculation fee of five dollars is charged when a student first
enters the University. This fee is paid but once and is not return-
Tuition Fees — Students are required to pay fees for instruction
and incidentals each semester as follows:
Regular full tuition and incidentals $75-0°
Graduate students pursuing courses prescribed for the degree of
Bachelor in Business Administration are required to pay the tuition
of the School of Commerce.
THE SCHOOL OF COMMERCE 37
Lecture Note Fees — A fee sufficient to cover the cost of prepar-
ing and manifolding notes in certain subjects is entered with the
tuition bill at the beginning of each semester. This fee, depending
on the subject, varies from $3.00 to $5.00 a semester.
Late Registration — A fee of two dollars is charged students reg-
istering after the first Wednesday in the first semester and after the
first Saturday in the second semester.
Changes in Registration — A fee of one dollar is charged for any
change in registration after the first full week of a semester.
Special Examinations — A fee of two dollars is charged for each
examination taken at a time other than that provided in the regular
Graduation Fee — A fee of ten dollars is charged persons taking
any degree. This fee is payable on the first day of May of the year
Refunds — No fees for instruction or incidentals will be refunded
except in cases of sickness. If on account of his serious illness a
student withdraws before the middle of a semester, one-half of his
tuition fee will be refunded, providing he secures from the Dean a
statement of honorable standing, and from a physician a certificate
that his health will not permit him to remain in attendance. Appli-
cation for a refund must be made before the close of the semester for
which the fee was paid.
Bills for fees are made out at the Commerce Office in Harris
Hall. Payment is made at the Business Manager's Office, 518 Davis
Street, Evanston. Checks should be made payable to "Northwestern
University," and all payments should be made in currency or in Chi-
SELF-SUPPORT OF STUDENTS
The University does not encourage students to enter school if
entirely without resources. Not a few students, however, are able
to help themselves materially by their labor, while pursuing studies.
The Young Men's Christian Association, Evanston, conducts a
bureau of self-help which is of assistance in securing work for a
large number desiring it. Inquiries sent to the Secretary of this
Association receive careful attention.
The services of the Bureau of Employment (see page 33) are
also available for students seeking work.
38 NORTHWESTERN UNIVERSITY
UNIVERSITY NOT RESPONSIBLE FOR PERSONAL LOSSES
The University is not responsible for the loss of any personal
property belonging to any of the students in any building owned by
the University, whether the loss occurs by theft, fire, or an unknown
HOW TO ADDRESS CORRESPONDENCE
All correspondence concerning the course in Business Adminis-
tration is handled at the Chicago office of the School of Commerce.
Address letters of inquiry to the Secretary, Northwestern
University School of Commerce, Northwestern University
Full information regarding requirements, courses, and fees for
Pre-Commerce students is contained in the Annual Catalog of the
University. This may be secured by addressing the Registrar of the
College of Liberal Arts, Evanston, Illinois.
3 0112 105882010
HOW TO ADDRESS
ALL correspondence is handled at
the Chicago Office of the School
of Commerce. Address letters of
inquiry to the Secretary, Northwestern
University School of Commerce, North'
Western University Building, CHICAGO.
Northwestern University Bulletin is published
weekly by Northwestern University during
the academic year at Chicago, Illinois.
Entered as second-class mail matter at the
post office at Chicago, Illinois, under act of
Congress of August 24, 19 1 2